The vacancy rate in Auckland's prime-rated (highest quality) office buildings has almost doubled in the last 12 months, according to the latest research from Colliers International.
Colliers' latest NZ Research Report found that the prime office vacancy rate in Auckland increased to 3.6% in June, compared to 1.9% in June last year.
"Since 2004, businesses seeking prime office space have had very few options. Now they have a little relief," Colliers' research manager Leo Lee said.
"Outside of the CBD, a few new projects underway will also help to relieve the pressure."
The report also found that rents in prime-grade Auckland office buildings increased 8.1% while capital values rose 14.9%.
In Wellington there was virtually no vacant prime-grade office space, with the vacancy rate dropping to 0.1% in June from 2.8% a year earlier.
Rents for prime office space in the capital rose 3.6% over the year to June and capital values increased 7.9%.
The report said the lack of vacant prime space in Wellington was due to the number of buildings removed from the market because of seismic damage.
Here's a link to the full report:
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